Lebanon Businessnews News
 

Tripoli electricity company
planned by Najib Mikati
IPO to be launched after Government
authorization has been obtained
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Nour al Fayhaa, a company founded by former Prime Minister Najib Mikati, was newly established to generate power for the greater Tripoli area.

Mikati said that the company requested, through the Ministry of Energy and Water, a permit to generate power for over 600,000 residents in Tripoli, Al Mina, and their suburbs.

“We have two options: The first is to buy the shares of the Kadisha Concession and manage it and the second is to give permission to Nour al Fayhaa to produce and distribute power,” he said. The first option is a bit out of reach because it entails several hurdles to overcome, mainly related to evaluation.

“Following the completion of the economic feasibility study, the door will be opened for a public IPO listing on the stock market,” said Mikati. Citizens will be given priority to buy shares.

Mikati said that renewable energy sources will be tapped and mixed with thermal power. This is why the price of power production has not yet been set.
Reported by Yassmine Alieh
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Date Posted: Sep 18, 2015